SOCAR reduces oil production by 35% in Jan-Nov

Oil&Gas Materials 1 December 2005 13:50 (UTC +04:00)

From January to November 2005 the State Oil Company of Azerbaijan (SOCAR) shipped 1,545 m tons of Ural oil from the Novorossiysk port against 2.39 m in 2004, SOCAR told Trend.

According to SOCAR, in November 2005 the Company shipped 167,200 tons Ural oil against 78,640 tons in October 2005 and 136,400 tons in November 2004.

Over 2004 SOCAR sold 2,559,100 tons oil from the Novorossiysk port, or 77,100 tons more as compared 2003. The tariff on transportation via the Baku-Novorossiysk port comprises $15.67 per ton oil.

Ural average price was $52.14 per barrel in November.